NHPF remains very concerned regarding the overall health and well-being of our 25,000 residents during the Covid-19 crisis. We have been actively working with our third-party management companies in taking steps such as increased cleaning of common areas, limiting resident contact except for emergency situations and, through our resident services program subsidiary Operation Pathways, providing resources for financial assistance, food, medicine, transportation, and needed supplies. In addition, we have placed a moratorium on all evictions for non-payment of rent for the duration of this crisis and are actively engaging our residents who have been financially impacted to discuss payment plans. We fully appreciate the social and emotional tolls the length of this crisis have taken on our residents and we will follow all local and state government directives regarding the reopening of our sites and community centers. The safety and well-being of our residents remains our highest priority.

Takoma Place Apartments

Affordable Housing in Washington, DC

Constructed in 1953, the Takoma Place Apartments are adjacent to the Walter Reed Army Hospital Campus along a gentrifying corridor in the Nation’s Capital. On 2017, NHPF worked with the Takoma Place Apartments Tenants Association to acquire the property using the District of Columbia’s Tenant Opportunity to Purchase Act (TOPA). Takoma Place consists of seven, four-story apartment buildings. Its garden-style complex is located across the street from the former Walter Reed Medical Center, which is being redeveloped into a 3.1 million square foot mixed use campus.

REDEVELOPMENT
NHPF and the Tenants Association are partnering to undertake a $31.7 million rehabilitation of the property using low income housing tax credits as well as subsidies provided by DC Government.

Total Cost

$38,265,000

Description
Takoma Place is comprised of 104 residential units. All Takoma Place households receive rental subsidies through a project-based Housing Assistance Payment contract with HUD.

Financing
The purchase price for the Takoma Place Apartments was $16,550,000. Secured financing and funding for this project included:

$8,500,000Citi Community Capital
$7,500,000LISC
$550,000Seller Note